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Stock Market Outlook for April 25, 2019


Energy sector realizes an abrupt rejection from its declining 200-day moving average as period of seasonal strength nears an end.

 

Real Time Economic Calendar provided by Investing.com.

 

*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities.   As always, the use of technical and fundamental analysis is encouraged in order to fine tune entry and exit points to average seasonal trends.

Stocks Entering Period of Seasonal Strength Today:

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Agnico-Eagle Mines Ltd. (TSE:AEM.TO) Seasonal Chart

Agnico-Eagle Mines Ltd. (TSE:AEM.TO) Seasonal Chart

Thermo Fisher Scientific Inc. (NYSE:TMO) Seasonal Chart

Thermo Fisher Scientific Inc. (NYSE:TMO) Seasonal Chart

Rogers Communications, Inc. (NYSE:RCI) Seasonal Chart

Rogers Communications, Inc. (NYSE:RCI) Seasonal Chart

Facebook, Inc. (NASD:FB) Seasonal Chart

Facebook, Inc. (NASD:FB) Seasonal Chart

Cerner Corp. (NASD:CERN) Seasonal Chart

Cerner Corp. (NASD:CERN) Seasonal Chart

Cooper Cos. Inc. (NYSE:COO) Seasonal Chart

Cooper Cos. Inc. (NYSE:COO) Seasonal Chart

Carbonite, Inc. (NASD:CARB) Seasonal Chart

Carbonite, Inc. (NASD:CARB) Seasonal Chart

 

 

The Markets

Stocks closed mildly lower on Wednesday as investors became cautious now that major equity benchmarks have returned to previous all-time highs.  The S&P 500 Index shed just over two-tenths of one percent, dragged down by energy and material stocks.  The S&P 500 Energy Sector Index fell by 1.85%, turning abruptly lower from its declining 200-day moving average.  Support around 20 and 50-day moving averages can be found at 497 and 489, respectively.  Seasonally, the sector concludes its period of seasonal strength at the start of May.

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Energy Sector Seasonal Chart

On schedule for the Wednesday session, the Energy Information Administration (EIA) released the status of petroleum inventories in the US. The EIA indicated that crude oil inventories increased by 5.5 million barrels in the week ending April 19th, while gasoline inventories were lower by 2.1 million barrels. The result keeps the days of supply of oil unchanged at 28.5, while gasoline saw a decline of four-tenths to 23.9. The average days of supply for oil and gas at this point in the year is 23.6 and 24.8, respectively.  We sent out our full analysis pertaining to the state of the energy market in a report to subscribers during Wednesday’s session.  Want a copy?  Subscribe now.

http://charts.equityclock.com/seasonal_charts/economic_data/Crude_Oil_Days_of_Supply_seasonal_chart.PNG

Weekly U.S. Days of Supply of Total Gasoline  (Number of Days) Seasonal Chart

On Tuesday, a report on New Home Sales for the month of March indicated that activity increased by 4.5% to a seasonally adjusted annual rate of 692,000. Analysts were expecting a pace of 645,000. The result represents the second strongest rate of this economic recovery. Stripping out the seasonal adjustments, new home sales actually increased by 21.4% in March, which is well above the average increase for the third month of the year of 15.1%. Performance in the month places the year-to-date change higher by a whopping 78.9%, which is the best start to a year on record. The average change through the first three months of the year is 38.1%, benefitting from the run-up to the spring home selling season.  Subscribe now to login to the Seasonal Chart database and download our full report.

http://charts.equityclock.com/seasonal_charts/economic_data/HSN1FNSA_seasonal_chart.PNG

Sentiment on Wednesday, as gauged by the put-call ratio, ended bullish at 0.87.

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Seasonal charts of companies reporting earnings today:

Allegion plc (ALLE) Seasonal Chart Alliance Data Systems Corporation (ADS) Seasonal Chart Altria Group (MO) Seasonal Chart Amazon.com, Inc. (AMZN) Seasonal Chart American Electric Power Company, Inc. (AEP) Seasonal Chart Baxter International Inc. (BAX) Seasonal Chart BorgWarner Inc. (BWA) Seasonal Chart Boyd Gaming Corporation (BYD) Seasonal Chart Bristol-Myers Squibb Company (BMY) Seasonal Chart Cerner Corporation (CERN) Seasonal Chart Comcast Corporation (CMCSA) Seasonal Chart D.R. Horton, Inc. (DHI) Seasonal Chart Eastman Chemical Company (EMN) Seasonal Chart Ford Motor Company (F) Seasonal Chart Freeport-McMoran, Inc. (FCX) Seasonal Chart Hershey Company (The) (HSY) Seasonal Chart Hess Corporation (HES) Seasonal Chart Illinois Tool Works Inc. (ITW) Seasonal Chart Illumina, Inc. (ILMN) Seasonal Chart Intel Corporation (INTC) Seasonal Chart International Paper Company (IP) Seasonal Chart Iron Mountain Incorporated (IRM) Seasonal Chart Mattel, Inc. (MAT) Seasonal Chart National Oilwell Varco, Inc. (NOV) Seasonal Chart Newmont Goldcorp Corporation (NEM) Seasonal Chart Raytheon Company (RTN) Seasonal Chart Rockwell Automation, Inc. (ROK) Seasonal Chart Southwest Airlines Company (LUV) Seasonal Chart Starbucks Corporation (SBUX) Seasonal Chart Tractor Supply Company (TSCO) Seasonal Chart UBS AG (UBS) Seasonal Chart United Parcel Service, Inc. (UPS) Seasonal Chart Valero Energy Corporation (VLO) Seasonal Chart Vermilion Energy Inc. (VET) Seasonal Chart Waste Management, Inc. (WM) Seasonal Chart World Wrestling Entertainment, Inc. (WWE) Seasonal Chart Xcel Energy Inc. (XEL) Seasonal Chart Xerox Corporation (XRX) Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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